Movement Alert|Kingdee International Rises 6.19% in Regular Trading, Rebound After Consecutive Selloffs as Buybacks Provide Support

Market Focus06-01

On June 1, Kingdee International rose 6.19% in regular trading, trading at HKD 8.25/share, with trading volume of HKD 182 million.

The rebound appears driven by the phased release of selling pressure following consecutive sharp declines, coupled with the company's sustained share buyback program. Kingdee was confirmed to be removed from the Hang Seng Tech Index on May 22, with the change to take effect after market close on June 5. The announcement triggered significant passive fund outflows, causing the stock to plunge over 5% on both May 26 and May 28, hitting new year-to-date lows.

During the selloff, management actively conducted buybacks — repurchasing 2 million shares on May 26 for approximately HKD 14.97 million at HKD 7.45–7.50 per share, and another 2 million shares on May 28 for approximately HKD 13.93 million at HKD 6.95–6.99 per share. The broader cloud computing sector also traded actively, with multiple peers posting gains exceeding 4%.

Kingdee International is a cloud services and enterprise resource planning (ERP) provider primarily operating in the domestic Chinese market.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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